In the times when art isn’t particularly selling, Sotheby’s is able to keep that smile on its face. Reason? Well, it seems that this is the only art auction house that isn’t particularly affected by the fall in the art market. We just heard that the house has got its hands on spectacular pieces crafted by Alberto Giacometti and Andy Warhol for its next month’s sales.
Reportedly, we have been hearing that collectors are holding on to their artefacts in this unfavorable economic atmosphere. The hope is for a recovery that will translate into big bucks for them. That said, we are quite impressed by Sotheby’s ability to nab such tremendous pieces.
Giacometti’s “L’homme qui chavire” will go on auction on November 4 at estimated price ranging between $8 million and $12 million. And last time at Christie’s, we saw how a piece by the same artist outsold its estimated price tag by a margin of $10 million. Big bucks are definitely on their way. Then there is Warhol’s 200 One Dollar Bills masterpiece that will fetch between $8 -12million. Oooh! It’s going to be ‘Ka-ching’ for Sotheby’s all the way.